Chicago Public Schools may need to dip into reserves

The Chicago Tribune reports:

Reluctant to go back to taxpayers after the biggest property tax hike in Mayor Richard Daley's tenure and two sales tax increases this year, City Hall and Chicago Public Schools officials are looking at dipping deeper into reserve funds to fill a nearly $100 million hole in the new school budget, sources said Monday.

City and school district officials who have been meeting privately refused to say if the proposed school budget that could be introduced as soon as Wednesday will call for increased property taxes.

No word yet on closing half-empty schools.